China Raises 2009 Growth Estimate to 9.1% From 8.7%

China, the world’s third-largest economy, raised its estimate for growth in 2009 to 9.1 percent from 8.7 percent, as output by industrial and services companies increased at a faster pace.

The expansion put the value of gross domestic product at 34.05 trillion yuan, the National Bureau of Statistics said in a statement on its website today. The figure translates to $4.98 trillion based on the average exchange rate between the yuan and the dollar in 2009, suggesting Japan retained its position as the second-largest economy with economic output of $5.07 trillion, according to data compiled by Bloomberg.